The joy of giving birth is an indescribable feeling; the parents see their little bundle(s) of joy and bask in the glory of bringing a new life into the world. The overwhelming joy begins to spread as that child grows; the child is taught lessons that will help him/her become great before the launching period. Every bit of sweat, tears, money and resources is put into giving that child the life they desperately need before they are out into the world without any supervision of barrier from the parents. All that matters in the end is whether the child can act on the lessons taught and use them as leverage.
A product is like a baby being brought into the world, after months or years of conceiving the idea, toiling, structuring and implementing that idea the product is ready. Just as much as bringing a child into the world is a sweet feeling, making a new product is an overwhelming feeling to have. However, bringing the product out is not the final stage but the beginning, as you have to know what to do when launching your product. Here are seven things you need to do when launching a new product.
Time is an essential factor when starting a business and it is also important when launching a new product. You have to start early to get your product the right momentum before the actual launch date. Maybe strategize outreach activities 6-8 weeks before the date; bear in mind that planning when to launch your product is imperative. You have to find a time that is not too busy but just right to suit your company.
Many products fail because of the wrong pricing strategy, ensure you tag a price to your product that your consumers are willing to pay. Make proper research to know how much your customers are willing to pay for a product like yours whether you want to pick a price slightly lower than your competitors or you want to have a premium product, choose a price that will be suitable for your customers.
Package your products and make it available to influencers. After finalizing the product name and price, the right deign has to come into play. Your product should be appealing to the human eye and attract customers. In addition to packaging, you have to make your product available to the movers and shakers of your industry be it bloggers, customers’ prospects of other companies to give a positive review of your product.
Promotion is the next step to take when launching a new product. Understand the various marketing channels available to you and utilize them to their maximum. For example, the social media is a great space to promote your new product especially a digital age such as we is in now. So flood the whole space with your product and its specifications.
Keep the momentum going, with the outpouring of release on your product you have to keep going strong. Keep the people abreast of new information, ideas, concepts that are associated with this new product. Always let the people keep guessing, you can create a sneak peak or teaser videos to attract your customers.
Test your product repeatedly before and after the launch. There is nothing more embarrassing than launching a product that does not work or the product crashing after weeks of getting into the market. It should be 100% error-free before the launch and should be constantly updated after.
Finally, be patient and strategic. Understand that great things take time, so take all the necessary precautions, make the right amendments and watch your product storm the market.